HYTN Innovations Inc. (HYTNF), a pharmaceutical company specializing in cannabinoids and psilocybin products, has forged a strategic partnership with 4C LABS, a leading importer and distributor of cannabis-based pharmaceuticals in the United Kingdom. This collaboration marks a significant step for HYTN as it expands its global reach, enabling the company to manufacture and distribute cannabis products in bulk and final packaged forms for the UK market and beyond.
Under the partnership agreement, HYTN will act as the producer, packager, and exporter of pharmaceutical-grade cannabis products that 4C LABS will import and distribute within the UK. HYTN’s commitment to quality is further underscored by its Health Canada’s Good Manufacturing Practice (GMP) license and PIC/S certification from Australia’s Therapeutic Goods Administration (TGA), ensuring compliance with European and Australian standards.
Elliot McKerr, Chief Executive Officer of HYTN, emphasized the significance of this partnership, stating, “This collaboration validates the ongoing regulatory work HYTN has been undertaking. By integrating 4C Labs’ deep understanding of cannabis procurement and consumer demand with our advanced GMP-certified manufacturing processes, we are well-positioned to deliver high-quality cannabis products to international markets. This partnership not only highlights our commitment to expanding the company’s global presence but also marks a significant milestone in HYTN’s advancement into non-sterile pharmaceutical production.”
Beyond supplying 4C LABS with new products, HYTN will also serve as a co-manufacturing center for the production of existing products, streamlining operational efficiency for both companies. The agreement does not impose any fixed, mandatory, or minimum order requirements on 4C LABS, allowing for flexible and adaptable collaboration.
Greg Dobbin, Chief Executive Officer of 4C LABS, expressed his enthusiasm for the partnership, stating, “Partnering with HYTN provides us with a significant competitive advantage. HYTN’s proximity to high-quality Canadian cannabis flower, coupled with their rigorous adherence to GMP standards and innovative manufacturing platform, will allow us to work towards delivering top-quality products and competitive pricing to our customers.”
While the initial focus of the partnership centers on supplying the UK market, both companies are poised to capitalize on significant growth opportunities in Germany and Australia. The German medical cannabis market is rapidly evolving as one of Europe’s largest, with an estimated value of CAD $2 billion ($1.47 billion). The Australian market, valued at over AUD $200 million ($133 million) in 2022, is also experiencing robust expansion. Recognizing the need for GMP-certified production and distribution in these markets, HYTN and 4C LABS have identified this partnership as the crucial foundation for supporting their global ambitions.
HYTN shares closed Tuesday’s market session flat at $0.2 per share.
This partnership represents a strategic move for both HYTN and 4C LABS, positioning them to capitalize on the growing global cannabis market while ensuring adherence to the highest quality and regulatory standards. As the cannabis industry continues its evolution, this collaboration underscores the importance of partnerships and strategic alliances in driving innovation, expanding market reach, and delivering high-quality products to a growing customer base.
